Prices in London are now sliding year on year says Home.co.uk
Latest Home.co.uk Asking Price Index released today 13th June headlines ‘Regions Prosper while London Home Prices Slide’.
Asking prices rose by 0.4% across England and Wales over the last month, despite election uncertainty, the figure is 2.8% year-on-year.
Figures reveal that Greater London prices slip by 0.1% this month making a year-on-year fall of 1.2%, it is the North and South West and the Midlands that are thriving and supporting the national average figure.
Doug Shephard Director at Home.co.uk said: “Over the last year we have observed a dramatic change of fortunes for the UK property market.
“London was the first region to slow, later to be joined by the South East, and now the East of England. Prices in the capital are now sliding year-on-year and falling about 5% in real terms. Together, these three regions constitute about 35% of the UK housing stock and much more than that by value. Their deteriorating performance will undoubtedly weigh heavily on the overall market for the foreseeable future, despite many other regions performing very well indeed”. more…
Read the Home.co.uk Asking Price Index report (June) and the comments from Doug Shephard in full click here.
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